The Italian government recently amended its legge di stabilita ("stability law") to nix an approximately $24 million tax exemption that the track receives.

The Autodromo Nazionale Monza is 92 years old, and it remains one of the most interesting races on the F1 calendar. Tifosi show up en masse to give Ferrari its proper home advantage. The atmosphere is positively electric, even on a TV screen, and it's always one of the must watch races of the season.

Unfortunately, F1 chief Bernie Ecclestone considered the last Italian Grand Prix a commercial disaster. Monza's contract to host the grand prix ends in 2016, with no contract renewal nailed down yet.

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Needless to say, I am taking my ball and watching Yakestonesian Goat Herding instead if he replaces it with another throroughly bland circuit like Sochi. F1 cannot be F1 without Monza on the schedule, period.

NBC Sports explains that both Italian officials and Monza's management knows the dire need to keep the historic circuit running as well as the Italian Grand Prix:

One Italian politician, Fabrizio Sala, said, "The stability law penalizes Monza and its Autodrome, putting at risk the future of the Formula One Grand Prix."

Former F1 driver Ivan Capelli, who became a director of the Automobile Club of Milan earlier this year, said an effort is underway to save the facility.

"Our commitment to find the resources needed is clear," he said emphatically.